Goldman Sachs JUST U.S. Large Cap Equity ETF
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.5x P/Sales
ratio
1.9x
P/BV
ratio
2.7x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JUST tracks a tier-weighted index of US-listed large-cap stocks selected based on a survey-based assessment of business behavior.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Jun 07, 2018
Assets (mns) $87
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 457
Wgt avg mkt cap (mns) $302,055
Large cap (>$10bn) 95.1%
Mid cap ($2-10bn) 4.7%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 5.7 %
APPLE INC 5.1 %
AMAZON.COM INC 4.6 %
FACEBOOK 1.9 %
JOHNSON & JOHNSON 1.9 %
JPMORGAN CHASE & CO 1.7 %
ALPHABET INC. CLASS C 1.7 %
ALPHABET INC. CLASS A 1.7 %
VISA INC-CLASS A SHARES 1.7 %
PROCTER & GAMBLE CO/THE 1.7 %
Total 27.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
IRELAND 2.2 %
BRITAIN 1.0 %
BERMUDA 0.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-19.4% -6.5% -- -- -1.1%

Market Correlations
versus... Beta R-squared
S&P500 1.00 100%
MSCI EAFE 0.98 87%
MSCI Emg. Mkts. 0.76 71%

Technical Indicators
Recent close $36.29
30d moving avg. $39.85
Annualized volatility 19.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 42
Turnover 1.8%
Bid/Ask (% of price) 0.51%
ADV underlying (mns) $268,065

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Goldman Sachs JUST U.S. Large Cap Equity ETF ETF based on the alternatives' overlap in portfolio holdings with JUST. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JUST Expense: 20 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JUST
Ticker Fund
Name
Overlap1
vs JUST
(%)
Expense
ratio
(bp)
Savings
vs JUST
(bp)
ALTAR
Score™
(%)
ALTAR
vs JUST
(%)
HSPX Global X S&P 500 Covered Call ETF 87.7 65 -45 6.2 -0.5
PBP Invesco S&P 500 BuyWrite ETF 86.9 49 -29 6.5 -0.1
MGC Vanguard Mega Cap Index Fund 83.5 7 13 6.8 +0.2
IWL iShares Russell Top 200 ETF 82.3 15 5 6.6 -0.0
SPY SPDR S&P 500 ETF Trust 82.2 9 11 7.1 +0.4
VOO VANGUARD S&P 500 ETF 82.0 3 17 7.1 +0.5
SPLG SPDR Portfolio Large Cap ETF 82.0 3 17 7.1 +0.5
IVV iShares Core S&P 500 ETF 81.9 4 16 7.1 +0.5
SPXE ProShares S&P 500 Ex-Energy ETF 81.8 27 -7 7.0 +0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 81.7 20 0 7.1 +0.5
VV Vanguard Large-Cap Index Fund 81.0 4 16 7.0 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 79.6 27 -7 6.6 0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 79.5 2 18 7.1 +0.4
PBUS Invesco PureBeta MSCI USA ETF 78.7 4 16 7.2 +0.6
SCHX Schwab U.S. Large-Cap ETF 78.1 3 17 7.0 +0.4
VONE Vanguard Russell 1000 ETF 78.0 8 12 7.0 +0.4
SNPE Xtrackers S&P 500 ESG ETF 77.3 11 9 6.8 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 77.1 27 -7 6.8 +0.2
IWB iShares Russell 1000 ETF 77.1 15 5 7.0 +0.3
SPTM SPDR Portfolio Total Stock Market ETF 76.9 3 17 7.3 +0.7
SCHK Schwab 1000 Index ETF 76.3 5 15 7.0 +0.4
IYY iShares Dow Jones U.S. ETF 75.7 20 0 6.9 +0.3
ESGV Vanguard ESG U.S. Stock ETF 75.7 12 8 7.0 +0.4
SFY SoFi Select 500 ETF 74.7 0 20 6.7 +0.1
IQSU IQ Candriam ESG US Equity ETF 74.1 9 11 6.7 +0.1
VTHR Vanguard Russell 3000 Index Fund 73.5 10 10 6.9 +0.3
SCHB Schwab U.S. Broad Market ETF 72.7 3 17 7.0 +0.4
VTI Vanguard Total Stock Market Index Fund 72.7 3 17 7.0 +0.3
IWV iShares Russell 3000 ETF 72.6 20 0 6.9 +0.2
CATH Global X S&P 500 Catholic Values Custom ETF 72.5 29 -9 7.0 +0.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 72.5 3 17 7.0 +0.4
ESGU iShares MSCI USA ESG Optimized ETF 71.7 15 5 6.7 +0.1
SPXT ProShares S&P 500 Ex-Technology ETF 71.6 27 -7 7.3 +0.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 69.2 12 8 6.7 +0.1
OEF iShares S&P 100 ETF 68.5 20 0 6.3 -0.3
EPS WisdomTree U.S. Earnings 500 Fund 68.0 8 12 8.5 +1.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 66.6 9 11 7.3 +0.7
JHML John Hancock Multifactor Large Cap ETF 65.5 34 -14 7.5 +0.8
VOOG Vanguard S&P 500 Growth ETF 64.7 10 10 5.7 -0.9
SPYG SPDR Portfolio S&P 500 Growth ETF 64.7 4 16 5.8 -0.8
IVW iShares S&P 500 Growth ETF 64.7 18 2 5.6 -1.0
IUSG iShares Core S&P US Growth ETF 64.3 4 16 5.8 -0.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 64.2 60 -40 6.0 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 61.9 25 -5 8.3 +1.7
AVUS Avantis U.S. Equity ETF 61.8 15 5 8.0 +1.4
QUS SPDR MSCI USA StrategicFactors ETF 61.6 15 5 7.3 +0.6
VONG Vanguard Russell 1000 Growth Index Fund 61.5 8 12 5.8 -0.9
IWF iShares Russell 1000 Growth ETF 61.5 19 1 5.7 -1.0
ESG FlexShares STOXX US ESG Impact Index Fund 60.8 32 -12 6.8 +0.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 60.7 25 -5 8.6 +2.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 59.9 25 -5 8.4 +1.8
DLN WisdomTree U.S. LargeCap Dividend Fund 59.6 28 -8 8.0 +1.4
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 59.3 15 5 6.9 +0.3
IUS Invesco Strategic US ETF 59.0 19 1 7.9 +1.3
DTD WisdomTree U.S.Total Dividend Fund 58.9 28 -8 8.5 +1.9
PRF Invesco FTSE RAFI US 1000 ETF 58.7 39 -19 9.2 +2.6
NACP Impact Shares NAACP Minority Empowerment ETF 58.6 75 -55 6.2 -0.4
DIVB iShares U.S. Dividend & Buyback ETF 57.6 25 -5 8.8 +2.2
VLU SPDR S&P 1500 Value Tilt ETF 57.2 12 8 9.6 +3.0
IWY iShares Russell Top 200 Growth ETF 56.4 20 0 5.5 -1.1
EXT WisdomTree U.S. Total Earnings Fund 56.4 28 -8 7.7 +1.0
RECS Columbia Research Enhanced Core ETF 56.3 15 5 7.5 +0.8
TOK iShares MSCI Kokusai ETF 56.2 25 -5 7.3 +0.7
WOMN Impact Shares YWCA Women's Empowerment ETF 55.7 75 -55 6.2 -0.4
XLG Invesco S&P 500 Top 50 ETF 54.9 20 0 5.9 -0.7
DSI iShares MSCI KLD 400 Social ETF 54.7 25 -5 6.7 +0.1
DGRO iShares Core Dividend Growth ETF 54.7 8 12 8.4 +1.7
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 53.9 29 -9 5.6 -1.0
RWL Invesco S&P 500 Revenue ETF 53.7 39 -19 9.2 +2.6
SUSL iShares ESG MSCI USA Leaders ETF 53.0 10 10 6.9 +0.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 52.9 10 10 6.9 +0.3
SCHG Schwab U.S. Large-Cap Growth ETF 52.7 4 16 5.6 -1.0
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 52.5 49 -29 5.5 -1.2
VUG Vanguard Growth Index Fund 52.5 4 16 5.5 -1.1
VOOV Vanguard S&P 500 Value ETF 52.3 15 5 9.2 +2.5
SPYV SPDR Portfolio S&P 500 Value ETF 52.1 4 16 9.2 +2.6
IVE iShares S&P 500 Value ETF 52.1 18 2 9.1 +2.5
IUSV iShares Core S&P U.S. Value ETF 51.7 4 16 9.4 +2.8
URTH iShares MSCI World ETF 51.5 24 -4 7.5 +0.9
ESGG FlexShares STOXX Global ESG Impact Index Fund 50.6 42 -22 7.2 +0.6
EQWL Invesco Russell Top 200 Equal Weight ETF 50.3 25 -5 7.5 +0.9
VEGN US Vegan Climate ETF 50.1 60 -40 7.1 +0.5
DYNF BlackRock U.S. Equity Factor Rotation ETF 49.8 30 -10 8.1 +1.4
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 49.5 75 -55 5.0 -1.7
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 49.4 12 8 6.3 -0.3
MGK Vanguard Mega Cap Growth ETF 48.6 7 13 5.6 -1.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 48.1 19 1 7.6 +0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 47.9 29 -9 8.2 +1.6
AFLG First Trust Active Factor Large Cap ETF 46.8 55 -35 7.7 +1.1
FQAL Fidelity Quality Factor ETF 46.7 29 -9 7.0 +0.4
FDLO Fidelity Low Volatility Factor ETF 46.6 29 -9 6.5 -0.1
VTV Vanguard Value Index Fund 46.4 4 16 9.1 +2.5
VONV Vanguard Russell 1000 Value Index Fund 46.2 8 12 9.3 +2.6
SCHV Schwab U.S. Large-Cap Value ETF 46.1 4 16 9.0 +2.3
IWD iShares Russell 1000 Value ETF 46.0 19 1 9.1 +2.5
JQUA JPMorgan U.S. Quality Factor ETF 45.9 12 8 6.6 -0.0
FDMO Fidelity Momentum Factor ETF 45.8 29 -9 5.5 -1.1
QWLD SPDR MSCI World StrategicFactors ETF 45.3 30 -10 7.5 +0.8
ACWI iShares MSCI ACWI ETF 45.2 32 -12 7.8 +1.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 44.4 20 0 8.1 +1.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Goldman Sachs JUST U.S. Large Cap Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.4 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.51
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.